Published on 1/23/2014 in the Prospect News Emerging Markets Daily.
New Issue: China's Dalian Wanda prices $600 million 7¼% notes due 2024 at 455 bps spread
By Christine Van Dusen
Atlanta, Jan. 23 - China's Dalian Wanda Commercial Properties Ltd. sold $600 million of 7¼% notes due Jan. 29, 2024 (Baa3/BBB-/BBB+) at 99.036 to yield 7.388%, or Treasuries plus 455 basis points, a market source said.
BofA Merrill Lynch, Barclays, Goldman Sachs, HSBC, UBS were the bookrunners for the Regulation S deal.
The company is a real estate and hospitality conglomerate based in Dalian, China.
| Issuer: | Dalian Wanda Commercial Properties Ltd.
|
| Amount: | $600 million
|
| Maturity: | Jan. 29, 2024
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Barclays, Goldman Sachs, HSBC, UBS
|
| Coupon: | 7¼%
|
| Price: | 99.036
|
| Yield: | 7.388%
|
| Spread: | Treasuries plus 455 bps
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 29
|
| Expected ratings: Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB+
|
| Distribution: | Regulation S
|
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